Companies in Argentina pay 106% income tax

According to data from the annual Doing Business report prepared by the World Bank (WB), Argentine companies pay 106% in taxes on their profits. It means that in Argentina, a company with 60 employees and an annual turnover of $12.6 mn with a gain of 20% ($2.4 mn) must pay the State $ 2.54 mn.

Source: Infobae